A Venezuelan commission set up to study the restructuring of state PDVSA had recommended lifting state control over all its operations and is calling for private national and international capital to open up the country’s oil business, according to an internal document seen Tuesday by S&P Global Platts. The 64-page proposal, which recognizes that Venezuela is no longer a strategic player in the oil market, aims to bring oil production to 2 million b/d from the current 618,000 b/d “in the shortest possible time.” In a 180-degree turnaround, Venezuela, in addition to massive privatization in oil and gas production, refineries and the domestic market, would allow the private sector […]